Brookfield Infrastructure Correlations

BIP Stock

USD 40.08 0.64 1.62%

The current 90-days correlation between Brookfield Infrastructure and Companhia de Saneamento is 0.08 (i.e., Significant diversification). The correlation of Brookfield Infrastructure is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Brookfield Infrastructure Correlation With Market

Very weak diversification

The correlation between Brookfield Infrastructure Part and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brookfield Infrastructure Part and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Brookfield Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Brookfield Infrastructure Partners. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Brookfield Stock

0.85	D	Dominion Energy	Pair Corr
0.81	ED	Consolidated Edison Sell-off Trend	Pair Corr
0.86	NI	NiSource	Pair Corr
0.88	NG	National Grid PLC	Pair Corr
0.84	AEE	Ameren Corp	Pair Corr
0.62	AQN	Algonquin Power Utilities	Pair Corr
0.74	AVA	Avista	Pair Corr
0.63	BKH	Black Hills	Pair Corr
0.81	CMS	CMS Energy	Pair Corr
0.87	CNP	CenterPoint Energy	Pair Corr
0.83	DTE	DTE Energy	Pair Corr
0.85	NGG	National Grid PLC Sell-off Trend	Pair Corr
0.69	NWE	NorthWestern	Pair Corr
0.84	PEG	Public Service Enterprise Earnings Call This Week	Pair Corr
0.78	UTL	UNITIL	Pair Corr
0.85	WEC	WEC Energy Group	Pair Corr
0.88	VIE	Veolia Environnement	Pair Corr
0.7	CNA	Centrica PLC	Pair Corr
0.62	AGL	AGL Energy	Pair Corr
0.68	SOJC	Southern	Pair Corr
0.67	CMSA	CMS Energy Corp	Pair Corr
0.73	DTW	DTE Energy	Pair Corr
0.61	SLF	Sun Life Financial	Pair Corr
0.71	SFNC	Simmons First National	Pair Corr
0.86	TER	Teradyne	Pair Corr
0.61	TOELF	Tokyo Electron	Pair Corr
0.7	SNPMF	China Petroleum Chemical	Pair Corr

Related Correlations Analysis

	SBS	KEP	SMR	LNT	EMA	AES	EVRG	TLN	ELPC	NI
SBS		0.76	-0.53	0.79	0.76	0.88	0.87	-0.22	0.92	0.87	SBS
KEP	0.76		-0.32	0.67	0.82	0.79	0.82	-0.22	0.87	0.87	KEP
SMR	-0.53	-0.32		-0.5	-0.68	-0.59	-0.51	-0.05	-0.41	-0.51	SMR
LNT	0.79	0.67	-0.5		0.71	0.68	0.92	0.17	0.78	0.88	LNT
EMA	0.76	0.82	-0.68	0.71		0.84	0.79	-0.01	0.76	0.86	EMA
AES	0.88	0.79	-0.59	0.68	0.84		0.81	-0.2	0.87	0.86	AES
EVRG	0.87	0.82	-0.51	0.92	0.79	0.81		-0.05	0.89	0.97	EVRG
TLN	-0.22	-0.22	-0.05	0.17	-0.01	-0.2	-0.05		-0.2	-0.05	TLN
ELPC	0.92	0.87	-0.41	0.78	0.76	0.87	0.89	-0.2		0.9	ELPC
NI	0.87	0.87	-0.51	0.88	0.86	0.86	0.97	-0.05	0.9		NI
	SBS	KEP	SMR	LNT	EMA	AES	EVRG	TLN	ELPC	NI

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

NI	+ 0.97	EVRG
ELPC	+ 0.92	SBS
EVRG	+ 0.92	LNT
NI	+ 0.9	ELPC
ELPC	+ 0.89	EVRG
AES	+ 0.88	SBS

High negative correlations

EMA	- 0.68	SMR
AES	- 0.59	SMR
SMR	- 0.53	SBS
NI	- 0.51	SMR
EVRG	- 0.51	SMR
LNT	- 0.5	SMR

Risk-Adjusted Indicators

There is a big difference between Brookfield Stock performing well and Brookfield Infrastructure Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Brookfield Infrastructure's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SBS	1.56	0.30	0.10	1.80	1.82	(1.83)	3.76	(4.23)	10.23
KEP	2.17	0.45	0.14	2.18	2.28	(2.34)	6.12	(3.82)	19.98
SMR	5.09	(0.74)	0.00	(0.08)	0.00	0.00	13.46	(9.40)	28.27
LNT	0.70	0.10	(0.02)	(1.72)	0.99	(0.68)	1.66	(1.58)	4.39
EMA	0.69	0.15	0.00	(0.27)	0.77	(0.75)	1.61	(1.59)	4.38
AES	1.38	0.21	0.13	0.35	1.24	(1.53)	3.11	(2.11)	11.35
EVRG	0.81	0.16	0.04	(1.13)	0.85	(0.86)	2.07	(1.31)	4.29
TLN	2.73	(0.03)	(0.01)	0.07	3.71	(2.80)	5.61	(5.48)	23.12
ELPC	2.17	0.34	0.10	0.65	2.76	(2.26)	4.60	(4.17)	13.43
NI	0.79	0.13	0.03	0.64	0.99	(0.79)	1.42	(1.61)	5.63

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